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Hiii...
I need good advice, tell me what you guys think. My husband and I have separate accts at the CU. I can not join his account due to some negative info on Check-systems but they let me open a shared-restricted. So what we came up with is he gets his own loan or visa and I would do the same. My question is which one is better?
We both have about 15 installment loans (mostly student loans my husband does have a car loan) reporting so many sl due to the selling of loans from bank to bank and to dept. of edu. All our loans are in good standing.
I have about an average of 5 revolving accts. One of my CC's is not reporting to Transunion. Util. about 7%
He has about 3 revolving accts. 9%
So how do we raise these scores? Should we each go with the Shared loans. Let me give you and example of a $500.00 loan there will be an 11% surcharge so my loan would be $555.00 for 12 months with monthly payments about $42.14 interest already included.
Or get the Secured Visa. I apologize for not having accurate info on their Secured Visa.
I just would like to know what looks better based on the figures, I have provided. What will help our credit score and gain worthiness.
Locking this thread. There is an identical post here: http://ficoforums.myfico.com/t5/General-Credit-Topics/Secured-Loan-vs-Secured-Visa-from-CREDIT-UNION....
Please don't cross post on multiple boards.